Lorenzo announced the launch of the Babylon pre-staking event and the co-hosting of the Bitlayer Mining Gala

BlockBeats news, on May 28, Bitcoin liquidity financial layer project Lorenzo announced the launch of the pre-staking Babylon event and the co-hosting of the Bitlayer Mining Gala. The Mining Gala was jointly initiated by Lorenzo and seven partners including Bitlayer, Avalon Finance, and Pell Network.

The event will be held from 21:00 on May 27, 2024 to 21:00 on June 10, 2024. Users can pledge BTC on the pre-staking Babylon event page to obtain stBTC. The BTC received by Lorenzo will be used by Lorenzo as an agent to participate in the Babylon pledge after Babylon goes online. The actual pledge progress may be determined by the possible pledge limit of Babylon.

In the Bitlayer Mining Gala, users can bridge stBTC to Bitlayer and use stBTC to participate in Bitlayer ecosystem project staking, lending and other activities, thereby receiving joint rewards from Lorenzo, Bitlayer and partner projects. To thank early supporters, Lorenzo will launch an incentive pool and a variety of incentive programs, which are expected to bring users a tenfold increase in points.